Lots of talk that members of the German coalition are lowering their resistance to joint euro bonds. No doubt, any concession would require euro member states to give up a good deal of fiscal autonomy in the process.
I firmly believe this crisis will end in a much more federal Europe at the end of the crisis.
Such a move would be a long time in coming, probably not until after treaty changes are put in place, a laborious process.
Remember how excited the market got about EFSF leverage. 1.4250 excited…Don’t get too excited on the rumor, or the announcement, (if it ever comes) as it will be a long, drawn out process, euro-zone style…
